The 24-year-old has spent the last three seasons with Chievo, initially on loan spells before a co-ownership deal tied him to the Verona club in January 2013.
Verona president Luca Campedelli confirmed on Thursday that the man who scored 13 Serie A goals last season no longer has any ties to Milan.
He said: "The confirmation of Alberto was one of our priorities,
"And I am very happy to say that today Paloschi is 100 per cent a Chievo player.
"We are talking about a great striker who is only 24-years-old and a guy who in training and in games has always given his best to this shirt."
Paloschi made an early splash at San Siro, scoring on his Serie A debut against Siena as a teenager in February 2007, but he was unable to fulfil his early promise and has also spent time with Parma and Genoa.
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